Monthly Archives: September 2013

Knightmare on Wall Street’s Edgar Perez on ‘Knight Capital, Goldman Sachs and NASDAQ’s trading glitches, a Sad New Market Reality?’

Posted on September 30, 2013 by Innovator

Mr. Edgar Perez, Author, The Speed Traders and Knightmare on Wall Street, will provide the keynote speech “Knight Capital, Goldman Sachs and NASDAQ’s trading glitches, a Sad New Market Reality?” at High-Frequency Trading Leaders Forum 2013 Chicago, “Strategic and Tactical … Continue reading →

Posted in Breaking News, Equity Markets, Events, Flash Crash, High Frequency Trading, knight capital, Market Making, NASDAQ, NYSE, SEC, Wall Street | Tagged After the Bell, algorithmic trading, Beijing, Beta Gamma Sigma, Bloomberg TV, BNN, Boston, brokers, Business Day, Business Tonight, Cash Flow, CCTV China, Cents & Sensibilities, CFA Singapore, Channel NewsAsia, Chicago, Citigroup, CME Group, CNBC, CNN en Español, Columbia Business School, Council on Foreign Relations, Countdown to the Closing Bell, Courant Institute of Mathematical Sciences, Dinero, Edgar Perez, Emerging Markets Investments Summit 2013, exchanges, Fox Business, Global Financial Leadership Conference 2012, goldman sachs, GPW Media, Harvard Business School, high frequency traders, High Frequency Trading Leaders Forum, High-Frequency Finance, High-Frequency Trading Leaders Forum 2013 Chicago, High-Frequency Trading Phenomenon, Hong Kong Securities Institute, IBM, Inside Market Data 2013, Institutional Investor, International Finance News, investors, keynote speech, Knight capital, KNIGHTMARe ON WALL STREET, Kyiv National Economic University, Lima, London, Market Makers, McKinsey, MIT Sloan Investment Management Conference, Naples Beach, Nasdaq OMX, New York, New York University, Peru, Private Equity, Private Equity Conference, Sad New Market Reality, Securities and Exchange Commission, Sina Finance, speed traders, Squawk Box, Squawk on the Street, technical analysis, The New York Times, The Speed Traders, The Speed Traders Workshop, trading glitches, Universidad ESAN, Universidad Nacional de Ingeniería, University of International Business and Economics, Venture Capital, Warsaw, Worldwide Exchange | Leave a comment

Technology-focused Hedge Fund, AienTech, Closes after Making its Mark in FX as a Top Provider of Volume to Bank Platforms

Posted on September 27, 2013 by Innovator

New York-based, high-frequency trading (HFT) firm AienTech is closing down after almost three years in operation, its chief executive and founder Ugur Arslan has confirmed. Details surrounding the closure are not yet known. Launched in January 2011 with a staff … Continue reading →

Posted in Breaking News, Foreign Exchange, High Frequency Trading, Practitioners, U.S. Economy, Wall Street | Tagged AienTech, arbitrage, artificial intelligence, chief executive, controls, financial markets, founder, hedge fund, HFT firm, high-frequency trading, multi-market, multi-strategy, New York, quantitative models, single-bank platforms, technology-focused, Ugur Arslan | Leave a comment

Drones Sending Lasers Across the Ocean? Welcome to the Race to Trade at the Speed of Light

Posted on September 26, 2013 by Innovator

In the wild, speed is the difference between killing or being killed, feeding or going hungry. Now more than ever, this is true in the shadowy concrete jungles of the world’s financial markets. Those currently trading who aren’t high-frequency traders, … Continue reading →

Posted in Equity Markets, Finance, Flash Crash, high-frequency journalism, Market Making, NASDAQ, NYSE | Tagged ahead of the game, broken markets, buy or sell, feeding or going hungry, financial markets, hardware, hardware sophistication, high frequency traders, high-frequency trading, home day traders, horse race, killing or being killed, lack of information, market volume, money, ordinary investor, power, Sal Arnuk, software, software sophistication, speed, traders, traders on exchange, Wired | Leave a comment

Unacceptable Options OPRA Trading Halt due to Software Upgrade at NYSE

Posted on September 18, 2013 by Innovator

The trading halt across U.S. options markets on Monday was due to a bug in new software being rolled out, a unit of NYSE Euronext (NYX.N), which operates the system, said on Tuesday, which was reported by Reuters. NYSE said … Continue reading →

Posted in Equity Markets, Flash Crash, Market Making, NASDAQ, NYSE, SEC | Tagged algorithmic trading, BATS Trading, Chicago, Direct Edge, Hedge Funds, high-frequency trading, markets, Nasdaq, NBBO, NYSE, NYSE Euronext, OPRA, Securities and Exchange Commission, software issue, The Speed Traders, The Speed Traders: An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, Ultra High-Frequency Trading | Leave a comment

MarketWatch: Exchanges Have ‘Homework’ after SEC Meeting on Tech Glitches

Posted on September 12, 2013 by Innovator

According to The Tell’s Sital Patel, the Securities and Exchange Commission is asking stock exchanges to come up with a series of concrete measures to ensure that market systems are of the highest standards and ensure better communications when breakdowns … Continue reading →

Posted in Breaking News, Equity Markets, FINRA, Flash Crash, NASDAQ, NYSE, Regulatory Updates, SEC | Tagged ARCA, August 22, Bats Global Markets, CBOE, Chicago Board Options Exchange, comprehensive action plan, Direct Edge, DTCC, exchanges, Finra, Flash Freeze, governance, halting trading, interoperability standards, kill switches, market infrastructure, market participants, market systems, Mary Jo White, Nasdaq, national market system, New York Stock Exchange, NYSE Euronext, operational resiliency, Options Clearing Corporation, public confidence, resilience, Robert Greifeld, SEC Chairman, Securities and Exchange Commission, securities information processors, SIPs, Sital S. Patel, technological failures, testing framework | Leave a comment

Former Knight Capital CEO Thomas Joyce’s Email and Credit Card Information Hacked by Anonymous

Posted on September 12, 2013 by Innovator

The personal electronic address and credit card information of Thomas Joyce, former Chief Executive Officer of Knight Capital, was in a database of Stratfor’s clients that was hacked by Anonymous on December 25, 2011, it was revealed in the book … Continue reading →

Posted in Equity Markets, Food for Thought, knight capital, Market Making, NASDAQ, NYSE, Practitioners, SEC | Tagged Anonymous, August 1, Barron’s, business thriller, Daniel Coleman, Dazzlepod, DMM, Edgar Perez, Electronic Trading, GETCO, hacktivists, intelligence briefing, KCG, KCG Holdings, Knight capital, KNIGHTMARe ON WALL STREET, market making, private intelligence agency, SEC, Shadow CIA, Strategic Forecasting, Stratfor, The Speed Traders, Thomas Joyce, Tom Joyce, trading error | Leave a comment

REUTERS: SEC Talks on Nasdaq Failure to Focus on Backing up System

Posted on September 11, 2013 by Innovator

According to Reuters’ Herbert Lash and John McCrank, federal regulators and stock exchange executives are likely to focus on the stock quotes processor behind Nasdaq’s trading halt last month, but a quick resolution of system outages or market weak spots … Continue reading →

Posted in Equity Markets, High Frequency Trading, NASDAQ, NYSE, Regulatory Updates, SEC, Wall Street | Tagged algorithmic trading, BATS Trading, Chicago, Direct Edge, Hedge Funds, high-frequency trading, Nasdaq, NYSE, Securities and Exchange Commission, The Speed Traders, The Speed Traders: An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, Ultra High-Frequency Trading | Leave a comment

BLOOMBERG: CFTC Seeks Comment on Potential High-Speed Trading Curbs

Posted on September 10, 2013 by Innovator

As reported by Bloomberg’s Silla Brush, the U.S. Commodity Futures Trading Commission (CFTC) is seeking comment on whether to require registration for automated trading firms, taking a first step in potential restrictions on high-speed and algorithmic derivatives trading. CFTC members … Continue reading →

Posted in CFTC, CME Group, Finance, Flash Crash, High Frequency Trading, Regulatory Updates, SEC | Tagged algorithmic derivatives trading, automated trading firms, Bart Chilton, CFTC, CFTC Chairman Gary Gensler, CFTC commissioner, CME Group, Commodity Futures Trading Commission, computer malfunctions, concept release, DRW Holdings, Electronic Markets, exchange-trading, flash crash, Flash Freeze, flawed algorithms, floor-based trading, Futures exchange, Futures Industry Association, Gary Gensler, high-frequency and algorithmic trading, high-speed trading, High-Speed Trading Curbs, high-speed trading strategies, human speed, infinium capital management, insufficient testing, KNIGHTMARe ON WALL STREET, maximum number of trading orders, Nasdaq Stock Market, principal traders group, RGM Advisors, risk controls, Scott O'Malia, SEC, Securities and Exchange Commission, Silla Brush, software error, supervision, system safeguards, systemic risks, testing, top U.S. derivatives regulator, U.S. futures markets | Leave a comment

OPEN LETTER to SEC Chairman Mary Jo White: Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

Posted on September 9, 2013 by Innovator

Dear chairman Mary Jo White, As informed by NASDAQ after the August 22 incident, price quotes were not being disseminated by the Securities Information Processor (SIP) for three hours. There was a connectivity issue, which led to degradation in the … Continue reading →

Posted in CFTC, Equity Markets, FINRA, High Frequency Trading, knight capital, NASDAQ, NYSE, Regulatory Updates, SEC, Wall Street | Tagged CFTC, Citadel, Den of Thieves, Direct Edge, Edgar Perez, Electronic Trading, Facebook, financial markets, GETCO, high-frequency trading, IBM, investors, IT department, Jersey City, KCG, KCG Holdings, Ken Pasternak, Knight capital, KNIGHTMARe ON WALL STREET, Liar’s Poker, Mary Jo White, Mary Schapiro, Michael Tobin, Microsoft, Nasdaq, New York Stock Exchange, NYSE, operational risks, PricewaterhouseCoopers, Retail liquidity program, RLP, SEC, SEC Chairman, shareholders, SIFMA, software, The Flash Freeze, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, The Speed Traders, TheFlashFreeze, Thomas Joyce, traders, trading disaster, Virtu Financial, Wall Street | Leave a comment

FORBES: Speed-Traders-R-Us? Algorithmic Trading Trickles Down To Individual Investors

Posted on September 7, 2013 by Innovator

According to Forbes’ Jeremy Bogaisky, Christopher Ivey is working on what he thinks is the next step in the evolution of trading. six flights up in a dim, grungy office building in Manhattan’s Union Square neighborhood. His efforts also serve … Continue reading →

Posted in Articles, Business, Equity Markets, Finance, High Frequency Trading, Practitioners, Wall Street | Tagged active traders, Alexandru Preda, algorithm-building tools, algorithmic techniques, algorithmic trading, alpha-generating secrets, AQR Capital Management, auto-trading tools, back-test strategies, Bollinger Band, brokerage accounts, browser-based, Carnegie Mellon University, Celent, Center for Innovative Financial Technology, Charles Schwab, Cheap technology, Christopher Ivey, cloud access, coding skills, Columbia University, Computational Research Division, computer programs, CoolTrade, David Leinweber, deregulation of commissions, development platform, drag-and-drop algorithms, EquaMetrics, Ernie Chan, executable trades, Fidelity, First Quadrant, Forbes, futures trading, GETCO, Hagen-Ricci Group, Harvard grad, Hedge Funds, HFT, high frequency trading firms, high-frequency trading, Individual Investors, James Simon, John Fawcett, Lawrence Berkeley National Laboratory, Lou Ricci, Manhattan, Margaret Belden, Massachusetts Institute of Technology, Master’s in finance, Master’s in financial engineering, Master’s in financial mathematics, mobile platform, Nicole Sherrod, options trading, Prodigio, Quant Farms, quant funds, quant hedge funds, Quantopian, Quants-R-Us, Renaissance Technologies, Rizm, rules-based strategies, self-directed trading, Sheffield Haworth, Sloan School of Business, sophisticated engineers, systematic trading, TD Ameritrade, Technical Indicators, Tim Richardson, Todd Fahey, trading programs, Union Square, University of Chicago, University of Pennsylvan, Wall Street, Wall Street banks, Web-based platform | 1 Comment

Monthly Archives: September 2013

Knightmare on Wall Street’s Edgar Perez on ‘Knight Capital, Goldman Sachs and NASDAQ’s trading glitches, a Sad New Market Reality?’

Technology-focused Hedge Fund, AienTech, Closes after Making its Mark in FX as a Top Provider of Volume to Bank Platforms

Drones Sending Lasers Across the Ocean? Welcome to the Race to Trade at the Speed of Light

Unacceptable Options OPRA Trading Halt due to Software Upgrade at NYSE

MarketWatch: Exchanges Have ‘Homework’ after SEC Meeting on Tech Glitches

Former Knight Capital CEO Thomas Joyce’s Email and Credit Card Information Hacked by Anonymous

REUTERS: SEC Talks on Nasdaq Failure to Focus on Backing up System

BLOOMBERG: CFTC Seeks Comment on Potential High-Speed Trading Curbs

OPEN LETTER to SEC Chairman Mary Jo White: Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

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